The Red Hot Chili Peppers sold the rights to their recorded catalog to Warner Music Group in a deal worth more than $300 million, sources familiar with the matter tell The Hollywood Reporter, with WMG acquiring the catalog through the company’s joint venture with Bain Capital. WMG first announced its $1.2 billion joint venture catalog acquisition vehicle with Bain last July and reported in its May 7 earnings report that they’d spent $650 million on catalogs since the JV’s launch,
Source: Red Hot Chili Peppers Ink $300 Million-Plus Deal With Warner Music to Sell Catalog